PNC Infratech Limited has emerged as the lowest bidder for a significant airport infrastructure project in Varanasi, marking a notable achievement for the company in the aviation sector.

Project Details

PNC Infratech has been declared the L1 (lowest) bidder for the development of Lal Bahadur Shastri International Airport in Varanasi. The project, valued at Rs 297.01 crore, was floated by the Airports Authority of India (AAI) and includes the following key components:

• Extension of the existing runway
• Re-carpeting and strengthening of the current runway
• Allied works

Contract Specifics

According to the company's disclosure to the stock exchanges:

Significance of the Project

This contract win represents a strategic move for PNC Infratech, expanding its footprint in airport infrastructure development. The Varanasi airport project is particularly significant given the city's importance as a cultural and religious center, as well as its growing status as a key tourist destination.

Company Statement

Tapan Jain, Company Secretary & Compliance Officer of PNC Infratech, confirmed the development in a regulatory filing. The company stated that the financial bids for the project were opened, with PNC Infratech emerging as the lowest bidder.

Market Impact

Following this announcement, investors and market analysts will likely be watching PNC Infratech's performance closely. The project adds to the company's order book and demonstrates its competitive edge in securing large-scale infrastructure contracts.

Conclusion

The successful bid for the Varanasi airport runway development project underscores PNC Infratech's growing presence in India's infrastructure sector. As the company prepares to execute this significant project, it will be interesting to observe how this contract influences its financial performance and market position in the coming quarters.

PNC Infratech , a prominent infrastructure company, has made a significant stride in the renewable energy sector by securing a major contract from NHPC Limited. The company has been awarded a Letter of Award (LoA) for the development of a 300 MW solar power project, complete with an advanced energy storage system.

Project Details

The project, awarded through a competitive bidding process, involves the following key components:

• A 300 MW Inter State Transmission System (ISTS) connected solar power facility
• An integrated 150MW/600MWh energy storage system
• A competitive tariff of Rs. 3.13 per kWh
• A 25-year operation period following the commencement of supply

Timeline and Execution

According to the company's disclosure to the stock exchanges:

• The Scheduled Commencement of Supply Date (SCSD) is set at 24 months from the effective date of the Power Purchase Agreement (PPA).
• The operation period of the PPA will span 25 years from the SCSD.

Strategic Importance

This project marks a significant milestone for PNC Infratech, showcasing its expanding footprint in the renewable energy sector. The integration of a substantial energy storage system aligns with the growing trend of coupling solar projects with storage solutions to enhance grid stability and power availability.

Market Impact

The award of this project is expected to bolster PNC Infratech's order book and potentially drive long-term revenue growth. It also positions the company as a key player in India's push towards sustainable energy solutions.

Company's Statement

Tapan Jain, Company Secretary & Compliance Officer of PNC Infratech, confirmed the contract award in a statement to the stock exchanges, highlighting the project's significance and its alignment with the company's growth strategy in the renewable energy sector.

This latest development underscores PNC Infratech's commitment to diversifying its portfolio and contributing to India's renewable energy goals.